India’s Forex Reserves Hit Record 725.7 Billion Dollars

India’s foreign exchange reserves have climbed to a historic high, offering a strong signal of the country’s growing financial strength.

According to data released by the Reserve Bank of India, the country’s forex reserves jumped by 8.663 billion dollars to reach an all-time high of 725.727 billion dollars for the week ended February 13.

A significant part of this rise came from an increase in gold reserves. The value of India’s gold holdings surged by 4.990 billion dollars, taking the total to 128.466 billion dollars.

Foreign Currency Assets (FCA), which make up the largest share of the reserves, also recorded a notable increase. FCA rose by 3.550 billion dollars to 573.603 billion dollars. These assets include the US dollar and other major global currencies such as the euro, yen and pound, all valued in dollar terms.

In addition, the value of Special Drawing Rights (SDRs), international reserve assets allocated by theInternational Monetary Fund, increased by 103 million dollars to 18.924 billion dollars.

Foreign exchange reserves are crucial for a country and provide a clear indication of its economic health. Furthermore, they play a significant role in maintaining a stable currency exchange rate.

Also Read: RBI Keeps Repo Rate Unchanged at 5.25% Amid Steady Inflation and GDP Growth